For me I would not buy a property with zero or negative numbers. 

Hii I am a first time investor trying to understand if Austin is a good market to buy a SFH and rent.

:) Well, if the planes take off and land from east to west, buying a home that is north or south is not directly in the flight path. 

Bottom line is buy as big as you can reasonably buy once you are out of small multifamily. 

She will probably game the system for the next 6-12 months, but that's what you get buying a property with a non-paying tenant in place, in an anti-landlord city. 

Buy that if want, it's probably closer to the 3-5s.  

Since you know what you need to buy it at and an average rehab cost, I would say $50-70k for a cosmetic flip, set the ARV based on the sample you choose and doing comps and ask them if they would invest in a deal similar to this. 

Or buying opportunities if the bottom is reached soon.

VG  when you talk about NOTE FUNDS are you talking about Note Funds that buy or originate notes secured by real Estate or are there other funds that do the same model of raising money on unsecured Notes ?  

Please feel free to reach out to me and my team if you would like to come up with a game plan and build your buy box.